Monday NW Seattle Real Estate Market Update 📅June 29th, 2020
Short and sweet this week!
We look at last week’s numbers as always, and mention the current interest rates which continue to be low!
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So welcome to week 16 of our Monday Market Update. You know this time of year we do have a lot of inventory that comes on the on the market. May and June tend to be our highest months of new inventory coming on and so this past week we definitely did have more inventory and then inventory is creeping up and then this past week homes going under contract did not quite keep up with the new homes coming on.
So last week in Northwest Seattle there were 201 homes for sale. The week before, was less, 180. New homes that came on the market, 66 new homes came on the market in north west Seattle. Homes that went pending sale, 41 homes went pending sale with average days on market of nine days. Pending inspection, 12 homes went pending inspection with an average days on market of 32 days and closed sales, homes that sold, 47 homes closed with an average days on market of 11 days and then the average price per square foot of the sold homes was $536, which was a little bit higher than the previous week of $530.
We’ve been tracking price per square foot, the average price per square foot in Northwest Seattle, for the last four weeks and each week they’ve just kind of crept up, crept up, crept up. So that just shows us that it’s a pretty robust seller’s market and then yeah, what was really interesting this past week is that for the pending properties the average days on market were just nine. So that means that most of those homes we’re selling in really just a few day and then of course interest rates. They remain awesome, 30 year fixed, 3.125, jumbo 3.25%. So super cheap money out there guys. You want it even cheaper? Do a 15 year loan for 2.625%.
And then of course we are in a hot sellers market. So if you are curious what your home might be worth right now definitely get in touch with us. We are happy to put together a report for you. No obligation. I just think it’s always great to know exactly how much your home is worth regardless of whether you’re thinking about selling.
We wish you guys a great weekend, a happy Fourth of July, be safe.
We understand that it is a confusing time right now. Each Monday, we will be sending out an update based on our experience over the past week to give you the NW Seattle Real Estate Market’s “Temperature”. We want to make sure that you are as informed as we are. Please don’t hesitate to give us a call or shoot us an email if at any point you have additional questions or questions that relate to your specific situation. We are always happy to help.
-Steve & Sandra
Steve 206-769-9577 email@example.com
Sandra 206-271-7100 firstname.lastname@example.org